Raymond James Financial Services Advisors Inc. Cuts Position in Yum China Holdings Inc (YUMC)
Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Yum China Holdings Inc (NYSE:YUMC) by 14.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 60,403 shares of the company’s stock after selling 10,209 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Yum China were worth $2,323,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of YUMC. Legacy Advisors LLC increased its holdings in Yum China by 660.8% during the second quarter. Legacy Advisors LLC now owns 3,043 shares of the company’s stock valued at $117,000 after buying an additional 2,643 shares during the period. Capital Investment Advisors LLC purchased a new position in Yum China during the second quarter valued at approximately $140,000. Signaturefd LLC purchased a new position in Yum China during the first quarter valued at approximately $163,000. Optimum Investment Advisors purchased a new position in Yum China during the first quarter valued at approximately $181,000. Finally, Hyman Charles D purchased a new position in Yum China during the first quarter valued at approximately $206,000. 83.52% of the stock is currently owned by institutional investors.
In related news, CEO Joey Wat acquired 24,400 shares of the stock in a transaction dated Thursday, June 7th. The stock was acquired at an average cost of $40.97 per share, for a total transaction of $999,668.00. Following the completion of the purchase, the chief executive officer now owns 21,991 shares of the company’s stock, valued at approximately $900,971.27. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Aiken Yuen sold 1,805 shares of Yum China stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $38.96, for a total transaction of $70,322.80. Following the sale, the insider now owns 2,337 shares of the company’s stock, valued at $91,049.52. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.
Yum China (NYSE:YUMC) last announced its earnings results on Wednesday, August 1st. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.10 billion. Yum China had a net margin of 6.45% and a return on equity of 20.94%. Yum China’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. equities analysts predict that Yum China Holdings Inc will post 1.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, August 29th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, August 28th. This represents a $0.40 annualized dividend and a yield of 1.15%. Yum China’s dividend payout ratio (DPR) is 28.17%.
YUMC has been the topic of several research reports. Zacks Investment Research raised shares of Yum China from a “sell” rating to a “hold” rating in a report on Saturday, May 5th. Bank of America downgraded shares of Yum China from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $44.30 to $34.00 in a research note on Thursday, July 19th. Macquarie downgraded shares of Yum China from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 2nd. Oppenheimer lowered their target price on shares of Yum China from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, August 2nd. Finally, UBS Group downgraded shares of Yum China from an “outperform” rating to a “market perform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Yum China has a consensus rating of “Hold” and a consensus target price of $46.06.
About Yum China
Yum China Holdings, Inc owns, operates, and franchises restaurants in China. The company operates in two segments, KFC and Pizza Hut. It operates restaurants under the KFC, Pizza Hut, Taco Bell, East Dawning, and Little Sheep brands, which specialize in chicken, pizza, hot pot cooking, Chinese food, and Mexican-style food categories.
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